ITC LTDShort
ITC: Bearish Momentum Unfolds
ITC: Bearish Momentum - Short Trade Setup
ITC Key Points
Trade Details:
Targets:
ITC Share Analysis:
Action Plan:
ITC's bearish journey continues—watch for TP3 and TP4! 🛑📉
ITC Key Points
- The 4-hour chart of ITC confirms a sustained downtrend, with TP1 and TP2 targets successfully achieved.
- The price action suggests the continuation of this bearish momentum, keeping TP3 and TP4 firmly in sight.
Trade Details:
- Entry Price: ₹508.85
- Stop Loss: ₹518.65 (strategically placed above resistance)
Targets:
- TP1: ₹496.70 ✅
- TP2: ₹477.05 ✅
- TP3: ₹457.40 (potential) 🔄
- TP4: ₹445.25 (final target) 🔄
ITC Share Analysis:
- Risological Alignment: The Risological trend line slopes downward, confirming the prevailing bearish trend.
- Price Structure: Lower highs and lower lows indicate a clear seller-dominant market environment.
- Momentum Strength: Strong red candles suggest heightened bearish activity, increasing the likelihood of hitting the remaining targets.
Action Plan:
- Existing Traders: Secure partial profits and trail stops to lock in gains.
- New Entrants: Wait for minor retracements toward the entry level for an optimal risk-to-reward ratio.
ITC's bearish journey continues—watch for TP3 and TP4! 🛑📉
- Indicator used on my charts> Risological.com
- Accurate Entry, Stoploss and Take Profit levels on all charts
- NO Repaint!
- Consistent profits
- Detect and avoid Sideways Market
- Works on all markets and all time frames.
- Accurate Entry, Stoploss and Take Profit levels on all charts
- NO Repaint!
- Consistent profits
- Detect and avoid Sideways Market
- Works on all markets and all time frames.
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